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Ethereum was initially proposed in 2013 in a white paper by Vitalik Buterin, a cryptocurrency researcher and programmer. In the white paper, Vitalik Buterin described Ethereum as a public, open-source, blockchain-based computing platform featuring smart contract functionality. Since the release of Ethereum in 2015, several other projects have emerged which can also host smart contracts and decentralised applications, but these platforms are unable to host anonymous and public smart contracts.
For mass adoption of blockchain technology, the Smilo team firmly believe that there must be a connection between a blockchain and its actual use cases. In order to ensure this connection, it is important to choose the best platform to connect with the use cases. Currently, there is no suitable blockchain-based computing platform for the medical sector, nor one that is an all-in-one solution for private escrow arrangements. All of the current smart blockchain-based computing platforms are public, but few people prefer their medical records or escrow arrangements to be public. To address these shortcomings, what is needed is an open-source, hybrid, blockchain-based computing platform: one that features hybrid transactions, hybrid smart contracts, and hybrid decentralised applications. This is where the Smilo platform shines.
What is the Smilo Platform?
Smilo is a unique blockchain platform which supports the combination of hybrid transactions, hybrid smart contracts, and hybrid decentralised applications — with ‘hybrid’ referring to both public and private. Smilo's intent is to use blockchain technology to create an alternative protocol for decentralised applications.
Smilo is to create a full-featured blockchain platform which hosts hybrid transactions, -smart contracts, and -decentralised applications. Since we are creating the platform in Java from square one, we can ensure it is completely open source.